SUMMARY
- Loco sold a majority stake for $65M to Redwood to boost its international presence.
- The investment provides current investors an exit and funds for Loco’s international expansion.
- The firm aims to enhance content by collaborating with streamers and major gaming organizations.
In order increase its presence in the international markets, game streaming platform Loco sold the majority of its stake for $65 million to Redwood, a UAE-based investment business. As per the firm, it will be able to enter new markets within the next year through this transaction, which combines primary and secondary infusion.
Anirudh Pantida and Ashwin Suresh, founders of Loco stated, “This investment is a recognition of the immense work done by our team in the past few years. Gaming is an integral part of the cultural zeitgeist globally, and we look forward to building a platform that is at the heart of this global movement. Live streaming enables authentic connection in a way that other mediums can’t match and we want to put the fan at the center of this experience”.
Bengaluru-based Loco, founded by Anirudh Pantida and Ashwin Suresh, has become a significant force in the gaming industry. Popular games like GTA, Clash of Clans, Free Fire, BGMI, and Call of Duty Mobile have all seen the development of very active communities on the platform. The firm plans to increase its content offerings by announcing additional agreements with streamers, e-sports players, and major gaming organizations as part of its international launch. Leading publishers including Krafton, Activision, Ubisoft, and Riot Games, as well as well-known international brands like the NBA and FIFA, have already worked with Loco.
The business has raised $42 million (₹330 crore) in a Series A fundraising round headed by Hashed in 2022.
